19 Apr 2019 14:57

Lavrov discussed Calvey case with Int'l Council for Cooperation and Investment - source

MOSCOW. April 19 (Interfax) - The case of Baring Vostok investment fund founder and senior partner Michael Calvey, who is charged with fraud, has been discussed at Russian Foreign Minister Sergei Lavrov's meeting with members of the International Council for Cooperation and Investment, an informed source told the press on Friday.

"Of course, it was discussed," the source said in response to a relevant question.

Lavrov met with members of the International Council for Cooperation and Investment under the Russian Union of Industrialists and Entrepreneurs (RUIE) on Friday.

Michael Calvey was taken into custody on February 16 on counts of defrauding the Vostochny Bank of over 2.5 billion rubles. Investigators believe that the bank lost the money after concluding a deal whereby it was repaid a debt in the form of 59.9% shareholding in International Financial Technology Group. The shares were heavily overpriced. The measures of restraint on Calvey and another defendant, former Vostochny Bank CEO Alexei Kordichev, were last week changed to house arrest, which was extended until July 14 for both defendants last Friday.